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Finally, Rahul Yadav journey as CEO of Housing comes to an end

After months of
speculation regarding the ‘employed or unemployed’ status of Housing’s Co-founder
and CEO, Rahul Yadav, it has been finally confirmed that the board has decided
to oust him from the company.

An official
statement issued by the company said, “Yadav
will no longer be an employee of Housing and be associated with the company in
any manner, going forward.”

After months of
speculation regarding the ‘employed or unemployed’ status of Housing’s Co-founder
and CEO, Rahul Yadav, it has been finally confirmed that the board has decided
to oust him from the company.

An official
statement issued by the company said, “Yadav
will no longer be an employee of Housing and be associated with the company in
any manner, going forward.”

The board
observed that “his behaviour is not
befitting of a CEO and is detrimental to the company, known for its innovative
approach to product development, market expansion and brand building.”

In the recent
past, Rahul has been in the news for his many controversial public statements.
He had resigned in April this year, however, the board asked him to continue
and lead Housing.

Rahul, along
with 11 other co-founders, had floated Housing in 2012 and has since managed to
secure more than$130 million in capital.

According to the
company statement, “While the search
for an interim CEO is underway, a transition plan has been put in place. The
current senior executives of Housing will continue to run the operations on a
daily basis, and ensure its continued smooth functioning.”

The board and
the operating committee will remain closely involved with all key decisions.
They even thanked Rahul for his contributions.

“The Housing
Board, investors, management team and employees are keen to see Housing
maximize its huge potential in India and beyond, as well as run in professional
and world class manner.  This is part of their larger commitment to India
and the startup ecosystem, which together remains unaffected and as strong as
ever,” said the official statement from Housing.

 

 

 

 

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